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- Space subdivided into 3 separate smaller parcels in order to close 3 retail transactions within one of the busiest locations in Rockland County- PARSIPPANY, N.J, AUGUST 20, 2009 -NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, is pleased to announce that it has recently completed three new long-term retail lease agreements, which total 5,500-square-feet and are located at 220 Route 59 in the Airmont Village Square shopping center in Suffern, New York. NAI Hanson's Ronald A. Fotiu, Vice President, and Michael Jamgotchian, Sales Associate, represented the landlord, Troast LLC, in all three transactions. "While we are continuing to see deal activity in Rockland County and Northern New Jersey retail sector, we have found that market conditions have made it especially difficult to find tenants to occupy space within the 5,000 to 10,000-square-foot range," stated Fotiu. "This trend was exemplified in these three new long-term lease transactions, because the space was originally marked as containing 5,500 square feet of space. However, given our deep knowledge of the market trends and players in this region, we advised Troast LLC to subdivide the original space into smaller parcels in order to generate full vacancy." More specifically, the three new tenants involved in these transactions at 220 Route 59 included nationally recognized H&R Block, , Airmont Eats, an upscale deli, and Airmont Hair, an upscale hair salon. H&R Block vacated its former location at 200 Rt 59, Airmont NY after a wave of recent vacancies at its former retail center, including the center's anchor and several satellite tenants, and now plans on occupying 1,250 square feet of space for a 5-year lease term. Airmont East and Airmont Hair both signed a combined 4,250 sq. ft each with a 10-year term. All three of these tenants were in search of a space that benefited from a heavy traffic count, strong population and income demographics as well as established anchor tenants, which they found at 220 Route 59. Situated in the Airmont Village Square at the intersection of Route 59 and Airmont Road in Rockland County, 220 Route 59 is located approximately 14 miles from the Tappan Zee Bridge and 30 miles northwest of New York City, within close proximity to Interstates 87 and 287. Benefiting from its convenient location in one of Rockland County's busiest submarkets, the property features great amenities, including ample parking, excellent visibility in a highly trafficked area, and well-established anchors in the shopping center, such as Walgreens, Applebees, and Starbucks. "Ultimately, this is an ideally situated property that is well-managed by our client, Troast LLC, and offers great visibility from many busy intersections and highways, all of which will further attract customers to these three new tenants," explained Jamgotchian. "As a full-service firm with a broad spectrum of available services and expertise, we had the proper tools and platform in place to be able to complete these transactions on behalf of our client and we look forward to working on opportunities of this kind in the future. " About NAI James E. Hanson Since 1955, NAI James E. Hanson has been a leading independent full-service brokerage commercial real estate and property management firm serving a diverse client list. NAI Hanson offers its clients strategic solutions and provides comprehensive value-added services such as office, industrial and retail brokerage, investment sales, land sales, management, government services and financing expertise. NAI Hanson is also one of the original members of NAI Global, an international commercial real estate network with over 325 offices spanning the globe. For more information on NAI James E. Hanson, contact William C. Hanson, SIOR, at the company's Hackensack office at 201-488-5800 or visit http://www.naihanson.com/.
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